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Financial Management and Accounting

Problem Set Assignment:

2.1, 2.3, 2.8, 2.19

3.3, 3.5, 3.7, 3.11

Question 2

Hemingway, Inc. applies factory overhead based on direct labor costs.

Question 1

Foam Pet Mattress Company can sell as many pet bed models A and B that it can produce, but the company has limited production capacity. It can produce two units of A or three units of B per hour and it has 4,000 production hours available. The contribution margin for product A is $5 and for product B it is $4. What is the most profitable sales mix for the Foam Pet Mattress Company?

FIFO accounting

please look at due date! it is 09/01/12 at 5:30 pm american/ los Angeles time

(2) You are reviewing the Dec 31, 2011 financial statement of ABC antique that is considering an initial offering of their share. The following items come to your attention: (a) Include in long-term investments are 10yrs US treasury bonds that mature marc

(2) You are reviewing the Dec 31, 2011 financial statement of ABC antique that is considering an initial offering of their share. The following items come to your attention: (a) Include in long-term investments are 10yrs US treasury bonds that mature march 31, 2012. the bonds were purchased Nov 20, 2011. (b) The property, plant, and quipment account is stated at cost, except that it includes a parcel of land purchased for investment purposes at a cost of $40,000. Because of rising land prices, The value of the land has been written up to $60,000.

I need help ASAP!

I need help ASAP!

(1) ABC corp. uses the periodic inventory system. During its first year of operation, ABC made the following purchases ( listed in chronological order of acquisition):

40 units at $100;

70 units at $80; and

170 units at $60

Sales for the year totaled $270 units, leaving 10 units on hand at the end of the year. What is the ending inventory using the average cost method (rounded)?

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